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ausin and Project a <br />Applicant: <br />Habitat for Humanity of Orange County, NC, lnc. <br />Project Title: <br />Rogers Road/Purefoy Road Land Acquisition Program <br />Request for Bond Funds: <br />$75,000 <br />Total Project Costs: <br />$485,000 <br />Bond Fund Leverage: <br />15% bond funds; 85% other funding sources <br />Project Description: <br />Habitat for Humanity proposes to use $75,000 in Orange County Housing Bond funds to <br />purchase property in the Rogers Road-Purefoy Road area in Chapel Hill. Habitat currently owns <br />property adjacent to the site on Rusch Road. The long-range goal is to develop a subdivision of <br />15-20 homes with a mix of detached housing and attached rental housing. This bond investment <br />would assist in the development eve rental units designed to meet the needs of the elderly and/or <br />disabled population. <br />Target Population/Projected Outcome: <br />5 rental families with incomes at or below 50% of median income <br />Project Schedule <br />Finalize contract with sellers - September 2001 <br />Obtain necessary planning approvals - November 2001--Sept. 2002 <br />Begin infrastructure construction - January 2003 <br />Begin house construction - September 2003 <br />Occupy rental housing - May 2004 <br />Long Term Affordability Vehicle <br />Habitat for Humanity will follow the guidelines adopted by the County Commissioners <br />and guarantee affordability for at least 99 years through the use of deed restrictions. <br />